The global GMO testing services market (Markt für GVO-Testdienste) is set to witness growth at a CAGR of 7.8% over the forecast period, reaching USD 4.6 Billion by 2032.
The growth of the GMO testing market is driven by rising investments and advancements in biotech research. Genetically Modified Organisms (GMOs) are organisms with altered DNA structures created using biotechnological methods to enhance food quality.
In response to increasing consumer demand and legislative measures like the GMO labeling law, food manufacturers are seeking verification for their products to confirm they are GMO-free. Consequently, the rising preference for non-GMO products is expected to significantly boost the global GMO testing market in the coming years, alongside the demand for advanced technologies to assess next-generation GMO traits.
Key Takeaways:
- The global GMO testing services market is anticipated to reach a valuation of around US$ 2.2 Bn by 2022 end
- The market is segmented based on technology, wherein Polymerase Chain Reaction (PCR) GMO testing services is anticipated to account for around 50% of the market share over the forecast period.
- The North America GMO testing services market is expected to witness a lucrative growth rate of 7.5% during the forecast period.
- Use of GMO testing services for meat & meat products to become a lucrative in the coming years
- East Asia is expected to emerge as a prominent market for GMO testing services market in the forecast period.
“Increasing production of diverse processed food products using genetically modified crops, as well as technological advancements in modern farming techniques across the globe will provide an impetus to sales in the market over the assessment period,” says an FMI analyst.
Competitive Landscape
The global GMO testing market is fragmented, with prominent competitors striving to gain a competitive edge, particularly in developed regions where regulatory compliance is rigorous and public awareness of food authenticity is high. For instance:
In December 2021, ALS Limited announced the acquisition of MinAnalytical Laboratory Services Australia Pty Ltd, a Geochemistry testing company to expand their operations in Australia.
Leading Companies Profiled in GMO Testing Services Market are
Interrtek
SGS SA
Eurofins
ALS Limited
Thermo Fisher Scientific, Inc.
TÜV SÜD AG
Merieux Nutrisciences
Bio-Rad Laboratories
Microbac Laboratories
OMIC
Others
Explore More Valuable Insights
Future Market Insights, in its new report, offers an impartial analysis of the global GMO testing services market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
GMO Testing Services Market by Category
By Technology:
- ELISA Test
- Polymerase Chain Reaction (PCR)
- Lateral Flow Devices (LFD)
By Crop Type:
- Corn
- Rapeseed/Canola
- Soy
- Potato
- Tomato
- Other Crops
By Trait:
- Herbicide tolerance
- Stacked
- Insect resistance
By Food Type:
- Meat & meat products
- Food additives
- Bakery & confectionery
- Breakfast cereals & snacks
- Infant food
- Others
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Frequently Asked Questions
- How much is the GMO testing services market currently worth?
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- What is the anticipated market value of the GMO testing services market by 2032 end?
- Which region is expected to drive the GMO testing services market over the forecast period?
- Who are the key players in the GMO testing services market?
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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